RBI, Enforcement Directorate to see if money was sent to tax haven
The man who ran Mohan Meakin for over four decades was a teetotaller.
Low-cost carrier Kingfisher Red will shut down in four months with the airline group chief Vijay Mallya on Wednesday saying several measures have been initiated to face financial problems caused by high interest burden and burgeoning fuel costs.
Kingfisher Airlines said it has entered into a code sharing and frequent flyer agreement with American Airlines, which will be effective from 2011. "The code share on Americans flight to Chicago will mark the first time ever that Kingfisher Airlines will place its code on any flight operating into the United States," executive vice president-commercial, Kingfisher Airlines Manoj Chacko said.
As his personal wealth started booming, Mallya went on a buying spree.
Mallya and his UB Group companies, including Kingfisher Finvest, held a 32.12 per cent stake in the airlines as of September.
The list of negatives on Kingfisher Airlines is getting longer.
United Spirits Limited clocked sales volume of 100 million cases for the fiscal ended March 31, 2010, becoming the world's second largest spirit company by volumes, UB group chairman Dr Vijay Mallya,announced on Wednesday.
The Vijay Mallya-owned UB Group on Friday withdrew the controversial advertisement showing India skipper Mahendra Singh Dhoni "mocking" at Harbhajan Singh's look-alike, which had prompted the spinner to slap a legal notice against the group.
Asthana was sent on a forced leave after the CBI registered a case of corruption against him. His plea to quash the FIR was rejected by the Delhi high court.
A bench comprising Justices A K Goel and U U Lalit took note of the fresh status report, referred by Attorney General K K Venugopal that efforts to bring Mallya back were on.
India's former captain Sourav Ganguly had to endure the ultimate humiliation of not being sold at the 2011 Indian Premier League Players' Auction, but his successor Rahul Dravid did manage to make the cut.
Kingfisher Airlines chief Vijay Mallya today said the company was negotiating with banks to reduce the high interest rates on its Rs 6,000 crore (Rs 60 billion) debt but maintained the air carrier was not suffering from a "huge" debt burden.
Within the next fortnight Adrian Sutil and Paul di Resta will know whether they continue to remain Force India drivers next season or not, as Team Principal Vijay Mallya said he is due to convey his decision to the duo before next month's Abu Dhabi Grand Prix.
Sahara Force India team principal Vijay Mallya, on Thursday, refused to reveal whether he will retain Adrian Sutil for the next season but said he would convey his decision to the German driver whenever he wants.
Force India will take action against their German driver Adrian Sutil only if he is formally charged with assault, the Formula One team's owner Vijay Mallya said on Thursday.
Force India has been re-named Sahara Force India after the Sahara Group bought stake in the Vijay Mallya-owned Formula One team. As per the agreement between the parties, Sahara Group and Mallya's UB Group will have 42.5 percent stake each in the team.
Force India, co-owned by Vijay Mallya, is set to sell a minority stake in the Formula One team to Sahara Group, which also sponsors the national cricket team, a source with knowledge of the deal told Reuters on Wednesday.
Force India's co-owner Vijay Mallya has rubbished speculation that he is planning to sell his stake in the Formula One team to Sahara India.
The decision to close down Kingfisher Red was announced by airline group chief Vijay Mallya yesterday who said this was being done 'because we don't intend to compete in the low-cost segment'.
Explosive West Indies batsman Chris Gayle got clearance from his cricket Board (WICB) to play in the ongoing Indian Premier League after Royal Challengers Bangalore roped him in as a replacement for injured Australian left-arm pacer Dirk Nannes.
Force India is gearing up for the Italian Grand Prix in Monza, in a big way and eyeing bigger points. After gathering 20 points from the last three races, Force India is targeting elusive double points finish in Sunday's Italian Grand Prix.
The IPL, which was perhaps the biggest gamble of his life, turned out to be the biggest success story ever, making Lalit Modi a cult in the echelons of global sport.
In 2012, Diageo signed a deal to buy stake in USL.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
AAI has filed two cheque bouncing cases against Mallya's Kingfisher Airlines in the court.
The case pertains to a criminal complaint filed by BCCI which has accused the former IPL commissioner of misappropriating funds during his tenure.
The opposition party questioned why the government took five years after the liquidation proceedings of ABG Shipyard to lodge an FIR in connection with the alleged duping of 28 banks.
Enforcement Directorate to approach court to attach industrialist's properties worth Rs 4,000 crore
Indian Formula One fans should be proud of their own team rather than bemoaning the lack of homegrown talent on the starting grid, Force India's flamboyant owner Vijay Mallya said.
The company's board approved the airline's plan to raise the amount through issuance of equity shares or preference shares or through global depository receipts.
Force India have extended their partnership with McLaren until the end of next year and appointed Andrew Green as technical director, the Formula One team said on Friday.
Several Indian sportspersons were felicitated at an awards function organized by Sports Illustrated magazine in Mumbai on Monday.
Royal Challengers Bangalore owner Vijay Mallya on Sunday backed Mumbai Indians in its fight against the alleged rigging of the IPL 4 auction and called for more 'transparency' and 'inclusive approach' in the administration of the Indian Premier League.
With all-rounder Cameron White choosing Royal Challengers Bangalore, the Victoria Bushrangers will now be captained by David Hussey in the Champions League T20 cricket tournament starting September 10 in South Africa.
Second deal in 4 months after tie-up with RIL for cargo airlines.
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Vijay Mallya-promoted Kingfisher Airlines is flying into turbulence. More than 150 of its pilots have left in the past year-and-a-half, citing various reasons. Even though others have joined, the current shortage is estimated at 35 pilots, forcing the airline to ground some of its aircraft, cancel leaves of flight commanders, and put senior executives from the operations department on flying duty.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
The 2011 Indian Premier League Players' Auction got a thumbs-up from all the ten franchises, with Royal Challengers Bangalore owner Vijay Mallya said "it was a level playing field" for all the participants.
